ServiceSource International Inc. (SREV) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of ServiceSource International Inc. (NASDAQ:SREV) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. They currently have $6.25 target price on the stock.
According to Zacks, “ServiceSource provides a suite of cloud applications for service revenue management. The Company provides end-to-end management and optimization of the service contract renewals process, including data management, quoting, selling and service revenue business intelligence. Its solution is based on the proprietary Service Revenue Intelligence Platform, a data warehouse that incorporates transactional, analytical and industry data gathered from over two million service renewal transactions. The Company’s offering finds its application in all industries. ServiceSource is headquartered in San Francisco, California. “
A number of other research firms have also weighed in on SREV. JMP Securities increased their target price on shares of ServiceSource International from $7.00 to $8.00 and gave the stock a market outperform rating in a report on Wednesday, August 24th. TheStreet upgraded shares of ServiceSource International from a sell rating to a hold rating in a report on Wednesday, September 7th.
Shares of ServiceSource International (NASDAQ:SREV) traded up 3.482% during trading on Wednesday, hitting $5.795. The stock had a trading volume of 229,461 shares. ServiceSource International has a 52-week low of $3.35 and a 52-week high of $5.89. The stock has a 50 day moving average of $4.88 and a 200 day moving average of $4.50. The firm’s market cap is $503.78 billion.
ServiceSource International (NASDAQ:SREV) last posted its earnings results on Wednesday, November 9th. The company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.03. The company earned $62.51 million during the quarter, compared to analyst estimates of $61.14 million. ServiceSource International had a negative net margin of 11.88% and a negative return on equity of 4.59%. ServiceSource International’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.02) earnings per share. On average, equities analysts anticipate that ServiceSource International will post $0.05 EPS for the current year.
Hedge funds have recently modified their holdings of the company. BlackRock Advisors LLC increased its position in shares of ServiceSource International by 5.5% in the second quarter. BlackRock Advisors LLC now owns 29,279 shares of the company’s stock worth $118,000 after buying an additional 1,519 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of ServiceSource International during the third quarter worth $121,000. AQR Capital Management LLC increased its position in shares of ServiceSource International by 5.1% in the second quarter. AQR Capital Management LLC now owns 31,532 shares of the company’s stock worth $127,000 after buying an additional 1,521 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of ServiceSource International by 59.3% in the second quarter. Alliancebernstein L.P. now owns 32,220 shares of the company’s stock worth $130,000 after buying an additional 12,000 shares in the last quarter. Finally, American International Group Inc. increased its position in shares of ServiceSource International by 0.9% in the second quarter. American International Group Inc. now owns 35,133 shares of the company’s stock worth $142,000 after buying an additional 301 shares in the last quarter. Institutional investors and hedge funds own 72.80% of the company’s stock.
ServiceSource International Company Profile
ServiceSource International, Inc (ServiceSource) is a provider of customer and revenue lifecycle solutions that improve enterprise revenue relationships. The Company operates through two segments: Managed Services, and Cloud and Business Intelligence (CBI). Based on the science of Revenue Lifecycle Management (RLM), the Company provides business to business (B2B) companies with technology-enabled services and solutions that allow growing and retaining revenue from existing customers, directly or through a channel.
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